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Visual21 Nov 2025
Data center suppliers
CAF (CAF) investor relations material
CAF Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Net attributable profit rose 66% year-over-year to €100m, driven by strong order intake and revenue growth.
Order backlog reached a record €15,579m, up 6% from the end of 2024, providing strong visibility for future growth.
Revenue increased 8% year-over-year to €3,165m, with both railway and bus segments contributing.
Profitability improved, with EBIT up 18% to €161m and EBIT margin rising 0.4 percentage points to 5.1%.
Sustainability ratings improved, with S&P at 66/100 (+6p.p.) and Ecovadis at 80/100 (+1p.p.).
Financial highlights
Revenue: €3,165m (+8% year-over-year).
EBIT: €161m (+18% year-over-year); EBIT margin: 5.1% (+0.4p.p.).
Net attributable profit: €100m (+66% year-over-year).
Financial result improved by 28% due to lower expenses and reduced FX impact.
Book-to-bill ratio for the group at 1.3; buses segment at 2.2.
Outlook and guidance
Expectation to close 2025 in line with the outlook announced at the start of the year.
Near double-digit revenue growth vs. 2024 anticipated.
Improved profitability and stable NFD/EBITDA ratio compared to 2024.
Dividend policy aligned with results development.
Sustainability focus on emission reduction amid increased activity.
Railway segment margin outlook given inflation?
Detail the >€9bn backlog options.
What is the strategy for zero-emission buses?
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Frequently asked questions
Construcciones y Auxiliar de Ferrocarriles S.A. (CAF) is a Spanish company specializing in the manufacture and supply of railway vehicles and equipment. Founded in 1917, CAF has expanded its expertise beyond freight car production to include a broad range of rolling stock, such as high-speed trains, locomotives, commuter trains, subway trains, and streetcars. In addition to rolling stock, CAF also focuses on components and spare parts for railway systems, offering wheels, axles, gear units, traction and signaling systems, and energy storage solutions. The company's comprehensive services encompass technical assistance, maintenance, after-sale services, and the development of rail infrastructure.
The company is headquartered in Beasain, Basque Autonomous Community, Spain, and its shares are listed on the Spanish stock exchange.
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